Live, rolling coverage of business, economics and financial markets as Donald Trump and Ursula von der Leyen agree deal in Scotland

At a meeting with Ursula von der Leyen at Trump’s Turnberry golf resort in Scotland, Trump said the agreement is ‘a good deal for everybody’.

If there is no deal and the US imposes 30 per cent tariffs, the EU has prepared counter-tariffs on US$109 billion of US goods.